European shares slid as oil hovered under $52 a barrel and as steelmakers felt the chill from rising iron ore prices, while the dollar rose and bonds fell ahead of comments from the U.S. central bank's chairman. Signs of growing inflationary pressure in the world's biggest economy have heightened fears that the Federal Reserve might quicken the pace of interest rate hikes and Alan Greenspan's congressional testimony at 1500 GMT will be scrutinised for clues on this. "All the indications are that the Fed will continue to tighten policy at the recent pace...it would be a shock if Greenspan suggested anything different," economist David Brown at Bear Stearns said. "We doubt (Greenspan's) message on the economy will change too much but as he is up in front of the House Budget Committee, he will probably have more to say about the need for deficit consolidation," Brown added. Friday's February U.S. jobs report was also at the back of traders' minds, amid expectations for a strong number that would show the U.S. economy to be in rude health after January's disappointing report. --More 1810 Local Time 1510 GMT
